I've been VERY happy with it so far. Of course, someone on another thread did mention that they personally tested it against AVAST and Avira, and where both of the latter caught a virus immediately (as in - catching it to protect you), MSE did not. I don't remember the details of the conversation.
But yeah, I would think that would make an excellent combination - MBAM and MSE. If I were having issues, I might would consider the paid version of MBAM... maybe one day will anyway. But for now, I'm sticking with all the free stuff.
Here's what I use, more or less, as sometimes I'll change up a little:
1. Firewalled Router, of course
1a (though not currently - have used, but not as a general rule - OpenDNS - may go back to though, particularly since I have an almost 5 year old who already knows some of his way around a 'puter).
2. Online Armor, preferred, Do have Comodo on one machine - software firewall
3. MSE - Antivirus - and I think I still have Avira on one machine.
4. MBAM, SAS, and if I rmember - SpywareBlaster - Have thought about using Spybot again for the immunization piece, but wonder whether it makes much diff anymore.
5. General clean-up tools, such as CCleaner.
6. FF browser with NoScript and AdBlockPlus
7. GC browser with NoScript and AdBlock